Johnson Matthey is hosting an analysts' visit today at its technology centre at Sonning Common in the UK. At the meeting Neil Carson, Chief Executive of Johnson Matthey, gave the following update on current trading:

"Trading in the second half of Johnson Matthey's financial year is progressing in line with expectations. Catalysts Division continues to perform well with Environmental Catalysts and Technologies benefiting from growth in the market for diesel cars in Europe. Demand for autocatalysts in China was down in the final three months of 2004 but sales in other parts of Asia continued to grow. Autocatalyst demand in North America is slightly down on last year. Process Catalysts and Technologies is benefiting from good growth in catalyst sales but platinum group metal refining remains weak.

Trading conditions for Precious Metals Division continue to be favourable with good volume growth and the platinum price rising to $880 per ounce in November 2004. Pharmaceutical Materials Division's profits are slightly down in the second half reflecting the anticipated drop in contribution from Carboplatin which came off patent in October 2004. The division continues to benefit from good growth in controlled drugs. Contract research revenues are down on last year but the order book for the remainder of the year is good. Colours & Coatings Division has continued its recovery with both the glass coatings business and the structural ceramics business performing well.

The US dollar has weakened further since the end of Johnson Matthey's half year on September 30th, 2004. Dollar weakness will have an adverse effect on the group's results for the full year but earnings per share (before exceptional items and goodwill amortisation) are still expected to be ahead of last year and in line with market expectations."

The presentation given to analysts today at Sonning Common is available on Johnson Matthey's web site (www.matthey.com).

Trading Update & Technology Presentations (PPT)

Trading Update & Technology Presentations »(PDF)

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